Raymond James Financial Services Advisors Inc. Decreases Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 43.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,295 shares of the company’s stock after selling 23,680 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Archer Aviation were worth $186,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ACHR. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Archer Aviation by 54.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,754,499 shares of the company’s stock worth $59,478,000 after purchasing an additional 4,154,340 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Archer Aviation by 20.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock worth $42,123,000 after purchasing an additional 1,394,872 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Archer Aviation during the 3rd quarter worth $2,739,000. EAM Investors LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter worth $1,848,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter worth $1,596,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Price Performance

Shares of ACHR opened at $3.97 on Thursday. Archer Aviation Inc. has a 1-year low of $1.77 and a 1-year high of $7.49. The stock has a market cap of $1.23 billion, a PE ratio of -2.28 and a beta of 2.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.21 and a quick ratio of 4.21. The firm has a fifty day moving average price of $4.60 and a 200 day moving average price of $5.23.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Tuesday, February 27th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Archer Aviation currently has an average rating of “Buy” and a consensus price target of $9.60.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis acquired 800,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $4.83 per share, for a total transaction of $3,864,000.00. Following the completion of the purchase, the insider now owns 36,251,720 shares in the company, valued at approximately $175,095,807.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have acquired 3,150,000 shares of company stock worth $15,724,500. 27.17% of the stock is owned by company insiders.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.